Jakarta(WNAM Monitoring): President Joko Widodo (Jokowi) called on ministries and institutions to exercise caution while setting an economic growth target against global economic risks, such as recessions.
”Anticipation in creating growth target must reflect carefulness but (with) optimism, and credibility must also be maintained,” he remarked at the State Palace, Jakarta, on Monday.
Jokowi made the statement during a Plenary Cabinet Meeting for Ramadan and Eid al-Fitr Preparations, Government Work Programs, Macroeconomic Framework, and the Main Points of the 2025 Fiscal Policy.
In his opening remarks, President Jokowi highlighted the situation and risks of global economic uncertainty that affect the macroeconomic framework of 2025.
He pointed out that the economies of several countries, such as the UK and Japan, had entered recession.
To this end, he called on his cabinet to anticipate this aspect by setting an economic growth target carefully while still being optimistic and credible.
Furthermore, the president urged the central and regional governments to step up the budget and prepare a contingency plan against economic turmoil and recession.
“Enhance the focus of central and regional governments by preparing an alternative plan if there is turmoil and crisis,” he emphasized.
Japan’s economy has fallen into recession after it contracted in the third and fourth quarters of last year.
According to data from the Japanese government on Thursday (February 15), the country’s economy shrank at an annual rate of 0.4 percent during the October-December period due to weak spending power.
Meanwhile, according to data from the Office for National Statistics, the UK’s economy contracted by 0.1 percent in the third quarter of 2023. The negative economic performance continued in the fourth quarter of 2023, with a decline of 0.3 percent.
Earlier, on February 5, Statistics Indonesia (BPS) announced that Indonesia’s economy had grown by 5.05 percent in 2023.
